IWEB, Inc. (the “Company”) was incorporated under the laws of the State of Nevada on February 17, 2015. On December 31, 2016, the company’s fiscal year end exchanging from June 30 to December 31.
Enigma Technology International Corporation (“Enigma BVI”) was incorporated on February 22, 2017 in the British Virgin Island with limited liability as an investing holding company. It was owned by shareholders and S-Mark Co. Ltd., a KOSDAQ – listed corporation and 100% shareholder of Digiwork Korea. On May 15, 2017, the company entered into a share exchange agreement (the “Share Exchange Agreement”) with Enigma BVI, and as a result of such the agreement, Enigma BVI is now a wholly-owned subsidiary of the Company.
Digiwork (Thailand) Co., Ltd. (Digiwork) was incorporated in Thailand with limited liability on November 24, 2016. It was owned by shareholders and S-Mark Co. Ltd. On May 15, 2017, Enigma BVI Digiwork and the shareholders of Digiwork entered into the following commercial arrangements, or collectively, “VIE Agreements”, pursuant to which Enigma BVI has contractual right to control and operate the businesses of Digiword. Enigma BVI acts as the exclusive consultant of Digiwork and provide technology consulting and services to Digiwork, and Digiwork pays Enigma BVI a technology consulting and service fee on a quarterly basis. Besides, Digiwork may not accept the same or similar technology consulting and services provided by any third party during the term if the agreement. The term of such the agreement will expire on May 15, 2027.
Digiwork was authorized by Digiwork Korea to be an official licensee and distributor of its technology exclusively in Thailand, Vietnam, Myanmar, Laos, Cambodia, United Arab Emirates and Qatar, and the authorization covers all four categories of Digiwork Korea’s coding technology: image, audio, web and security coding. This technology enables governments and enterprises around the world to give digital identities to media and objects that computers can sense and recognize, and to which they can react.
Digiwork is a technology development and services provider specializing in coding services in various industries and markets. Digiwork’s technology enables enterprises to imbed or imprint invisible digital identities to media and objects that various computer devices can sense and recognize and to which they can react. Our coding technology provides the means to infuse persistent digital information, perceptible only to computers and digital devices, into all forms of media content. Our coding technology permits computers and digital devices including smartphones, tablets, industrial scanners and other computer interfaces to quickly identify relevant data from vast amounts of media content. We focus on four coding technologies:
1. Image coding technology
2. Audio coding technology
3. Web coding technology
4. Security coding technology
S-Mark Co., Ltd., a shareholder of Digiwork and a 31.3% shareholder of the Company.
Digiwork Korea, a 100% wholly owned subsidiary of S-Mark Co., Ltd. Digiwork was set up pursuant to a joint business agreement among its shareholders (“JBA”) on August 4, 2016 as amended and restated on March 31, 2017. On July 10, 2017, parties to the JBA entered into an amendment to the Amended and Restarted Joint Business Agreement, and Digiwork Korea agreed to provide research and development services to Digiwork for a period of five years commencing rom March 31 2017. The technical services are currently provided by contracted technicians from Digiwork Korea. Digiwork Korea grants to Digiwork full and exclusive licenses of any news launches, developments, improvements and any other intellectual property rights of coding technology as developed by Digiwork Korea. The territories for such licenses are Thailand, Vietnam, Laos, Cambodia, United Arab Emirates and Qatar.
Marvelous ERA limited was incorporated in September 2018 in the British Virgin Islands as a wholly-owned subsidiary (“Marvelous ERA”). Marvelous ERA is the 70% majority owner of One Belt One Network Holding Limited, a British Virgin Islands company (“OBON”), which was incorporated in October 2018. OBON is the sole parent of One Belt One Network (HK) Limited, a company organized under the laws of Hong Kong SAR in October 2018.